Thanks to all for the responses. I share many of your concerns. A bit more here:
The only Charter companies I am aware of that Charter IP's are Island Yachts in the VI's and I think Gratitude in the San Juans. This will be the third one and will be in San Diego
and be run by the local San Diego
IP dealer. He's been an IP dealer since '98 and was the top IP dealer for 2010. He, like everyone else is on hard times due to the economy and is starting the charter operation to spur his sales efforts - probably more than to make income. He has experience running a charter operation as prior to '98 he was a Grand Banks
dealer and had a very similar charter operation to support that business.
While we have no prospect of a guaranteed income, we will get the lions' share of the charter fee. Since his focus will be using our boat as a sales tool, the marketing
becomes more important for us and focuses more on the recreational crowd. The dealer and his business partner are both licensed captains and plan to do mostly crewed sailings. Bareboat
is an option, but the prospective charterer will need to demonstrate 'skills' as one would expect. We are also thinking outside the box about things like wedding/proposal sailings, sunset sailing, memorial/ash scattering, boat & breakfast, etc.
We've spent some time looking at other charter operations in San Diego and LA area and they seem to do brisk business, although, they are chartering Catalina's and Beneteau's - not that I'm knocking those boats - in our LONG search we had offers on each of those brands - but it's kind of my point. I'm left wondering how many charterers out there have chartered 'normal' charter boats such as those and would be intrigued by the ability to take out an IP next time instead at a comparable price
Maytrix raises an ineresting point - you cover all your costs except your note - is this because your boat doesn't go out enough, or because of the structure of your deal with the charter company? To your point, an IP is not an inexpensive boat, and while we could afford it's care and feeding if there was no payback, it would stretch things quite a bit - this is why I'm really trying to get some good feedback from charter owners prior to closing the deal - hopefully some in the So. Cal
. area (sorry I neglected to mention that in the original post.) I'm really hoping to hear how much of the cost of ownership others have been able to cover.
One other thing I have going for me - My wife is a travel agent - hoping that pays dividends...wish us luck!
Anyone else out there? - any and all information is much appreciated